FCPO- SINGAPORE, Feb 20 (Reuters) - Malaysian crude palm oil futures closed off an eight-month high on Monday, as China's policy easing buoyed sentiment, while an improvement in demand prospects and technical outlook also provided support.
Major palm oil consumer China cut its reserve requirement ratio on Saturday for the first time this year in a move to boost liquidity and stimulate economic growth, improving demand prospects for the edible oil.
Hopes that Greece will be able to secure a second bailout package on Monday also lifted the palm oil futures market, which has gained 2.2 percent so far this year.
Benchmark May palm oil futureson the Bursa Malaysia Derivatives Exchange inched up 0.1 percent to 3,245 ringgit ($1,075) per tonne, but off the day's high of 3,276 ringgit, a level last seen on June 15. Traded volumes stood at 21,096 lots of 25 tonnes each, slightly thinner than the usual 25,000 lots.
REGIONAL EQUITY- BANGKOK, Feb 20 (Reuters) - Philippine shares climbed 1.3 percent to their all-time highs, and other Southeast Asian stock markets posted modest gains on Monday, helped by selective buying in blue chip firms as commodities-related shares gained along with high oil prices.
Across the region, investor appetite for riskier assets was boosted by a surprise policy easing by China and expectations that Greece would secure a second bailout deal.
MSCI's broadest index of Asia Pacific shares outside Japan was trading up 0.68 percent by 0944 GMT while the MSCI index for Southeast Asia <.MISU00000PUS>, made up of selected stocks, was up 0.9 percent.
Commodities-related shares led gainers in the region along with U.S. crude prices. Singapore's Noble Grouprose 1 percent while Malaysia's Sime Darby was up 0.4 percent and Indonesia's Bumi Resources gained 1 percent.
In Singapore, property firms with large exposure to China were among the biggest gainers. CapitaLand Ltd rose 3.5 percent while its shopping mall unit CapitaMalls Asia added 4.8 percent.
Major palm oil consumer China cut its reserve requirement ratio on Saturday for the first time this year in a move to boost liquidity and stimulate economic growth, improving demand prospects for the edible oil.
Hopes that Greece will be able to secure a second bailout package on Monday also lifted the palm oil futures market, which has gained 2.2 percent so far this year.
Benchmark May palm oil futures
REGIONAL EQUITY- BANGKOK, Feb 20 (Reuters) - Philippine shares climbed 1.3 percent to their all-time highs, and other Southeast Asian stock markets posted modest gains on Monday, helped by selective buying in blue chip firms as commodities-related shares gained along with high oil prices.
Across the region, investor appetite for riskier assets was boosted by a surprise policy easing by China and expectations that Greece would secure a second bailout deal.
MSCI's broadest index of Asia Pacific shares outside Japan was trading up 0.68 percent by 0944 GMT while the MSCI index for Southeast Asia <.MISU00000PUS>, made up of selected stocks, was up 0.9 percent.
Commodities-related shares led gainers in the region along with U.S. crude prices. Singapore's Noble Group
In Singapore, property firms with large exposure to China were among the biggest gainers. CapitaLand Ltd rose 3.5 percent while its shopping mall unit CapitaMalls Asia added 4.8 percent.
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